XL, a Boston, MA-based provider of vehicle electrification solutions for commercial and municipal fleets, acquired the electrification division of Quantum Fuel Systems, a provider of alternative fuel systems for the automotive and heavy duty fleet industries.
The amount of the deal was not disclosed.
Per the terms of the transaction, XL acquired the engineering staff and technology assets of Quantum Fuel’s EV division, providing capacity to accelerate its product development plans for heavy duty and fully electric propulsion applications.
XL will continue to operate Quantum’s Lake Forest, California office, expanding its presence within the state.
Led by newly appointed CEO Dimitri Kazarinoff, with founder and original CEO Tod Hynes remaining with the company as Chief Strategy Officer, XL is the leader in vehicle electrification solutions for commercial and municipal fleets in North America, used by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston.
Its fleet-ready™ XLH™ hybrid electric drive system and the XLP™ plug-in hybrid electric drive system allow Class 2 to 6 commercial and municipal customers to increase fuel economy and reduce carbon dioxide emissions, decreasing operating costs and meeting sustainability goals with no impact on fleet operations.
In addition to Kazarinoff, XL added Rob Kisiel to its leadership team, as VP of Supply Chain and Production.
FinSMEs
15/10/2019